Gov’t To Disposed Of 17 Defunct Public Enterprises

Government is on the verge of disposing of 17 defunct state-owned enterprises that have become liabilities rather than assets, Minister for Public Enterprises, Joeseph Cudjoe has disclosed.

Some these white elephant entities include the State Construction Company, Bonsa Tyre Factory, and Bolgatanga Meat Factory, among others.

“From our records, we have 17 defunct entities that government is taking steps to dispose of. The problem now is that the government is just incurring cost to take care of them while others are just vandalizing assets. This is a disturbing situation as far as our public enterprises’ portfolio is concerned”, the minister disclosed.

Mr Joseph Cudjoe who gave the disclosure at a press conference on Wednesday July 12, 2023 also stated that the Ministry also planning to list some of these enterprises on the stock markets to attract investors to revive them.

“They are just siphoning money from government’s purse, and they are just becoming liabilities rather than assets. They are some upon the review, we intend listing them on the stock market to get the investing public to have equity stakes in them. So, it’s like a cleanup of the portfolio so that we can those that are active to be invested to help them grow and generate jobs for the good people of Ghana”, he added.